Simplex Expands Crypto Horizons with CAD and JPY Support

New Addition to the Simplex Family

In an exciting move for crypto enthusiasts in Japan and Canada, Simplex, the Israeli fintech and cryptocurrency powerhouse, has announced support for two new fiat currencies: the Japanese yen (JPY) and the Canadian dollar (CAD). This means users on some of Simplex’s partner exchanges, including the giant Binance, can now buy cryptocurrency directly with their credit cards.

Rolling Out the New Feature

While the news is mostly celebratory, not every Simplex partner will support JPY and CAD right away. Cointelegraph got the scoop after reaching out to both Simplex and Binance for confirmation. A spokesman from Simplex happily confirmed the report, noting that it’s up to their partners to decide when to allow these new currencies for credit card purchases. It leaves us, the eager users, in a bit of suspense about who will jump on the bandwagon first.

Partnering with OKEx

In conjunction with the launch of CAD and JPY support, Simplex has also teamed up with major exchange OKEx. Perfect timing, right? Users can now purchase Bitcoin, Ether, XRP, Bitcoin Cash, and Litecoin using credit and debit cards. This feature is live and ready for action on OKEx’s official website for all those ready to dive into the crypto waters.

Future Plans: Russian Ruble and Turkish Lira on the Horizon

Simplex’s co-founder, Nimrod Lehavi, hinted at even more exciting news on the horizon. He mentioned that they plan to add Russian rubles and Turkish lira support very soon. It turns out that Japan and Canada not only have a strong crypto market presence but also rank among the top territories for credit card use globally. Who knew a trading exchange could double as a geography lesson?

What is Simplex?

For those still scratching their heads, Simplex is a European Union-licensed financial institution focused on payment processing. With offices that span from Israel to the U.S., it provides strictly “fraud-free” payment services to a list of credible companies such as the Litecoin Foundation and Xapo. Before adding the new currencies, Simplex had already been supporting the U.S. dollar, euro, and British pound. They’re like the popular kids at school, only cooler!

In Conclusion

The expansion into JPY and CAD demonstrates Simplex’s commitment to enhancing the crypto buying experience for millions of users. As they continue to forge partnerships and add new currencies, the fintech landscape is changing rapidly. Keep an eye on Simplex – they might just revolutionize how we view fiat and crypto transactions!